Dana Classic Fragrances sale
This article was originally published in The Rose Sheet
Executive Summary
Letter of intent is signed by Dana Classic Fragrances, a company owned by New Dana Perfumes CEO Isaac Cohen, to purchase firm's fragrance portfolio including Tabu, Canoe, English Leather, Love's Baby Soft and British Sterling. Upon closing, Dana Classic Fragrances and Cohen's existing company Intermarketing Group will both become subsidiaries of IMG Holdings, a family of companies that sells Dana perfumes in Canada, Spain and Mexico. Cohen will serve as CEO of the combined entities. New Dana Perfumes was formed in 1999 by an investment affiliate to purchase the assets of the bankrupt Renaissance Cosmetics. After the sale, New Dana Perfumes will continue to own and operate its non-fragrance affiliate New Cosmar, which markets Cosmar, Frills and Nat Robbins...